### Altcoin Market Zero-Sum Game#

The altcoin market is currently in a zero-sum game stage, meaning that the gains of some altcoins will come at the expense of others. Although Bitcoin's market cap has doubled, the total market cap of altcoins is still below its previous all-time high, with no new capital flowing in, only internal rotation. This means that the altcoin market is currently a player-versus-player competitive environment, where only a few altcoins with strong use cases and narratives can survive. Other altcoins may face the risk of being eliminated. This zero-sum game situation also reflects the current predicament of the altcoin market. On the one hand, the altcoin market lacks new capital inflows, while on the other hand, intense competition within the market makes it difficult for many altcoins to develop. Therefore, investors need to carefully select their investment targets and pay attention to the use cases and narratives of altcoins to determine whether they have long-term value.